NYT Co. Posts Q2 Profit

The New York Times Co. on Thursday joined the band of newspaper publishers defying Wall Street expectations by posting second-quarter profits in the face of deteriorating advertising revenue.

The Times Co. said its second-quarter net income was $39.1 million, or 27 cents a share, compared to $21.1 million, or 15 cents a share in the year-ago period. In the first quarter of this year the Times Co. posted a loss of $74.5 million, and the consensus among analysts was that the company would post another loss, of about 4 cents a share, this quarter.

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